Interim financial report 1st half 2022


In connection with the presentation of the Interim Financial Report for the first half of 2022, Carsten Tirsbæk Madsen, Chief Executive Officer, states:

‘Today Jyske Realkredit announces a profit of DKK 580m for the first half of 2022 against a profit of DKK 473m in the first half of 2021. In the first half of 2022, reversals were recognised on a net basis, including a part of the management's estimate relating to Covid-19. Rising interest rates and inflation as well as the war in Ukraine result in further uncertainty as to the development of the Danish economy and future property values. In the light of this, Jyske Realkredit has raised its total management's estimates of impairment charges. Jyske Realkredit’s capital base is at a historically high level and credit quality is good.

In June, it was announced that the Jyske Bank Group, including Jyske Realkredit, had entered into an agreement to take over Svenska Handelsbanken’s activities in Denmark. In connection with this, Jyske Realkredit expects to acquire mortgage and property loans in the amount of DKK 25 bn - 30 bn that fulfil the Danish rules applicable to mortgage financing. An expansion of the capital base in Jyske Realkredit is not necessary in connection with the transaction.’